need help with this accounting question Peak Manufacturing's standard wage rate is $14.50 per direct labor-hour(DLH), and according to the standards, each unit of output requires 3.8DLHs. In June, 3,200 units were produced, the actual wage rate was $14.75per DLH, and the actual hours were 13,440 DLHS.What would the Labor Efficiency Variance for June be recorded as?

Step 1: Definition of Labor Efficiency VarianceLabor Efficiency Variance: This measures the…

Answered: Peak Manufacturing's standard wage rate…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter8: Standard Costs And Variances

Section: Chapter Questions

Problem 7PB: Marymount Company makes one product. In the month of April, it made 3,500 units. Workers were paid...

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Case made 24,500 units during June, using 32,000 direct labor hours. They expected to use 31,450 hours per the standard cost card. Their employees were paid $15.75 per hour for the month of June. The standard cost card uses $15.50 as the standard hourly rate. A. Compute the direct labor rate and time variances for the month of June, and also calculate the total direct labor variance. B. If the standard rate per hour was $16.00, what would change?
Power Co.s labor information for June is as follows: A. What was the actual labor rate per hour? B. What was the standard labor rate per hour? C. What was the total standard labor cost for units produced in June? D. What was the direct labor time variance for June?
If a factory operates at 100% of capacity one month, 90% of capacity the next month, and 105% of capacity the next month, will a different cost per unit be charged to the work-in-process account each month for factory overhead assuming that a predetermined annual overhead rate is used?
Ellis Companys labor information for September is as follows: A. Compute the standard direct labor rate per hour. B. Compute the direct labor time variance. C. Compute the standard direct labor rate if the direct labor rate variance was $2,712.30 (unfavorable).
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MonaLisa Industries' standard wage rate is $13.40 per direct labor-hour (DLH), and, according to the standards, each unit of output requires 5.2 DLHs. In June, 3,200 units were produced, the actual wage rate was $13.00 per DLH, and the actual hours worked were 17,000 DLHs. What would the Labor Efficiency Variance for June be recorded as?
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